The Canadian government is considering a proposal that would force companies that use taxpayer money to pay taxes.
The proposed rule would force all employers in the country to report the tax bill for all employees.
If you’re a Canadian employer, you’ll likely have to pay an annual tax bill of $5,000 or more.
It would apply to employers that have at least 50 employees, or $100 million in annual revenue.
It also applies to small businesses with fewer than 50 employees.
“This is a way to ensure that we’re not paying too much tax,” said Robyn Wysopal, a spokeswoman for Public Services and Procurement Canada.
“It’s an incentive for employers to actually do the right thing.”
The proposed rules are in the Public Sector Payroll Act and would require employers to provide a detailed tax return and a detailed financial statement to the government.
They would also require companies to give the government all the information they collect, including payroll information, receipts, receipts and taxes.
Wysolk told CBC News she hopes to have the legislation passed by the end of the year.
The rules are a way for governments to prevent tax evasion and help prevent employers from overpaying employees, Wysoll said.
Under the proposed rules, an employer would need to file an annual report and financial statement within 10 years of a tax year ending.
If the company does not file the report within the prescribed time, it will be forced to pay a $1,000 penalty, up to $50,000 in penalties, or face a fine of $1 million.
It’s not clear if the proposed penalties would apply only to Canadian companies.
Companies that operate abroad could also face penalties.
It was unclear whether companies would have to provide the information required by the rules if they operate overseas.
The government estimates that the proposed rule will cost $1.6 billion over a decade, including $3.6 million annually in penalties.
Public Safety Minister Vic Toews, who has also proposed new rules on how much a business can charge employees and how much they can spend on employee benefits, told CBC Canada in a statement that he believes these proposed rules will help strengthen Canada’s tax base and help make our workplaces more efficient.
The Government of Canada is committed to promoting Canada’s economic competitiveness through effective and transparent tax systems, and has identified a number of steps that can be taken to achieve these objectives.
For example, the Government is working with stakeholders, including business, to develop a framework to identify, monitor and enforce compliance with the Tax Administration Act, the Regulations and the Canada Revenue Agency Act.